Executory Interest in United Kingdom

Definition of Executory Interest

In accordance with the work A Dictionary of Law, this is a description of Executory Interest : (mainly historical)

An interest in property that arises or passes to a particular person on the occurrence of a specified event. For example, when property is settled in trust “for A, but for B if he marries Mary”, then B has an executory interest. Under the Law of Property Act 1925 executory interests in land can only exist as equitable interests.

Compare remainder; reversion.